Constantine Metal Resources is planning a 1,000-metre winter drill program at its Golden Mile property in Timmins. The property is currently optioned to Teck Resources.
“We are pleased with the systematic exploration approach that has been taken at Golden Mile and are excited with the opportunity to be drilling these quality targets,” said Garfield MacVeigh, president and CEO of Constantine, in a news release. “The property is located in an excellent geological and structural setting within the high-grade Timmins gold camp, and has received only limited historic drilling owing to extensive overburden cover.”
The winter program is designed to test coincident geophysical, geological and geochemical targets generated by Teck-funded exploration work carried out over the past 18 months. The program is scheduled to commence in early February and will be managed by Constantine under a technical services agreement with Teck.
Golden Mile is a large, 68-square-kilometre property located 9 km northeast of Goldcorp's multi-million-ounce Hoyle Pond deposit and covers the projection of the Pipestone Fault System on the north margin of the Timmins gold camp that has produced more than 55 million ounces of gold.
The company made the announcement a week after announcing it had signed an agreement with the Matachewan and Wahgoshig First Nations to allow for exploration on their traditional territories, including the Golden Mile property.
The agreement establishes the foundation for ongoing communication with the Matachewan and Wahgoshig communities during the exploration process while respecting their culture, heritage and traditional territory. The agreement also promotes training and employment for First Nation people and business opportunities for First Nation companies and partnerships.
Constantine and the First Nations have also agreed to a negotiation process leading to an impact benefits agreement (IBA) should any project within the shared traditional territory proceed to an advanced stage. The IBA will cover topics such as business opportunities, employment, training and financial compensation.
“We have had a very good relationship with Constantine over the years and look forward to a collaborative relationship in the future,” Wahgoshig Chief David Babin said in a statement. “This agreement protects our traditional values and continues to demonstrate that Wahgoshig First Nation promotes responsible development on our land.”
